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Economy News - Baghdad
Today, Monday, the Parliamentary Oil and Gas Committee revealed proposals within the draft oil and gas law to establish three companies, including the Kurdistan Oil Company, while stressing that the law will guarantee the rights of all producing provinces, especially Basra.
A member of the committee, Ali Shaddad Al-Faris, told the official news agency, “The government of Prime Minister Muhammad Shia’ al-Sudani has taken a step forward in the oil file with Kurdistan by activating the higher committee specialized in negotiating with the regional government, which is headed by the Deputy Prime Minister and Minister of Planning, and the membership of both the Minister of Oil And the director of SOMO, the head of the Border Crossings Authority, and some consultants and experts,” pointing out that “the committee will be strongly activated, and it will be followed up by the Parliamentary Oil and Gas Committee.”
Al-Faris added, "There is no solution for the regional government except to sit at the table of the Supreme Committee to reach a draft oil and gas law after the Federal Court's decision to illegally establish the oil and gas law in Kurdistan," noting that "the law will regulate the relationship between the federal government and the producing provinces and regions." for oil and gas.”
He stressed, "The law will be a guarantor of the rights of the oil-producing provinces, led by Basra," noting that "the passage of the law cannot be delayed during this session."
He pointed out that "some of the proposals that will be put forward in the draft law, and which the Kurds may go towards, are the establishment of a Kurdistan Oil Company that will be based in the region and is directly linked to the Federal Ministry of Oil with all its extractive and production operations," adding, "There may be another company involved in gas investment, And another company concerned with investing in government refineries.
Added 12/05/2022 - 8:08 PM
Updated 12/06/2022 - 3:08 PM
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